Azerbaijani state fund to invest $2.5bn in new company to manage gas projects

March 13, 2014

The State Oil Fund of Azerbaijan is going to invest $2-2.5 billion into the company to be established to manage the gas projects Shah Deniz 2, TANAP and TAP, the Fund's executive director, Shakhmar Movsumov, has told the Azerbaijan Investment Summit in Baku.

This year, USD 51mn will be invested, said Movsumov. For this, the Fund's budget would be revised, he said, adding that the investment would be returned after the launch of the Southern gas corridor by 2023-24.

Copyright:, 2014